Precisely (and congrats on surviving on the plus side)!
I used to approach trading more as a game of tactics and strategy, like playing chess. But nowadays it is a bit more like crossing a raging river by jumping across the backs of crocodiles before they have time to snap your feet off! - and scoring a peanut every time you succeed!
(Photo:David Moynahan Photography)
Seems like in order to follow oil one has to only comment on indices!
But it is Friday, the weekend and the last trading day of the month. Will we see a quiet one as markets just focus on dressing their accounts - or will we see a follow-through on the equities below this Daily SMA200 with a sell-off and movement into safer instruments like sovereign debt?
It is strange how whenever the issue of trade wars and tariffs is addressed, people talk mainly about who it is going to affect most and by how much, the Chinese or the Mexicans or the Indians or the US itself.
But if one looks at the topic from a bird’s eye perspective, then we see tariffs as just another form of taxation being applied in erratic, but large, chunks here, there and everywhere. The overall impact is that an awful lot of businesses and individuals are suddenly forking out a whole chunk of extra money on, well, taxes and more taxes.
If this was an internal national act whereby a leader just suddenly overnight, with no govt discussion, no warning, no continuity, slapped on, say, 10% tax on electricity, 25% on petrol, 15% on electronics, 5% on soy beans, then I would imagine that the country would soon be on the streets and threatened with drifting into a Venezuela-type situation. But because these tariffs are international the taxation angle seems to be overlooked in the anticipation of national gain at the expense of others.
But if the globe is being taxed heavily and progressively then the globe is going to slow down. And when the globe starts to pull off the road then the investments climb off onto something else.
I just wonder where we will close today…